What is Innovation in the context of the Challenge Fund?

Every new idea that adds value to your business, makes it more efficient

or reduces cost and time. It can be a new process, a new marketing

approach, a new product or service that responds to existing challenges

in your business and is relevant for your local context.

What kind of proposals we are looking forward to?

Every proposal must be innovative, feasible and sustainable.

Who can apply to the
Challenge fund?

The applications may come from any Idea stage
individuals or teams and from registered start-ups (0-3 years). It is also open for Innovation Support Organizations such as incubators, accelerators, hubs, universities, NGO’s, private companies, all entities that support start-ups. The applications may come from any business sector.

How we Rule?

It’s not just funding but an in-depth mentoring throughout the period of implementation that involves financial, legal and tailor made technical support. The whole process is transparent: the application, the evaluation and answering your questions – everything is online.

How much can you apply for?

UP TO

7,000 €

IDEA STAGE

UP TO

15,000 €

EARLY STAGE START-UP

BETWEEN 0-1 YEAR

UP TO

25,000 €

SCALE-UP START-UP

BETWEEN 1-3 YEARs

UP TO

100,000 €

INNOVATION
SUPPORT ORGANIZATIONS
NOT YOUNGER THAN 1 YEAR

IMPORTANT DATES

EVALUATION STAGES

1. Management team
2. Financial advisory team
3. Swedish evaluation committee
4. Validation Bootcamp
5. Legal advisory team

ANY QUESTIONS?

Rules for Funding

• Be a legal person / natural person / physical person
• Already be established in Albania or ensure that the start-up will operate and be registered in Albania
during the project period (hence also Albanian diaspora, and non-Albanian residents in Albania would be eligible to apply as
along as the business is assured to take place in Albania),
• Not have performed registered activity for more than 36 months until the date of publication of the Call for Proposals,
• Must provide minimum 50% of cost share (of the total value of the project);
• Be directly responsible for the preparation and implementation of the activities outlined in the application.
• Period of implementation will be no longer than 12 months